Mktg Env.

Question 1

What does the marketing environment consist of?

Answer 1

The actors and forces outside marketing that affect management’s ability to build and maintain successful relationships with target customers

This definition is attributed to Philip Kotler.

Question 2

True or False: Marketing activities occur in isolation from external forces.

Answer 2

False

Marketing activities are influenced by a complex and dynamic environment.

Question 3

Fill in the blank: A company’s marketing environment is influenced by _______.

Answer 3

[external forces]

This includes economic, social, technological, and competitive factors.

Question 4

What is the nature of the marketing environment?

Answer 4

Highly complex, dynamic, and changing

This complexity requires marketers to continuously adapt their strategies.

Question 5

Who is quoted regarding the definition of a company’s marketing environment?

Answer 5

Philip Kotler

Kotler is a renowned marketing author and professor.

Question 6

What is environment scanning?

Answer 6

A constant, important activity of successful companies that includes gathering, filtering, and analyzing information related to the marketing environment.

This process helps to monitor changes and forecast future conditions relevant to the company.

Question 7

What are the two main methods used by companies for environment scanning?

Answer 7

Marketing Research and Marketing Intelligence System.

These methods gather vital information about changes in the marketing environment.

Question 8

What factors are important to watch in the marketing environment?

Answer 8

Customers’ behavior and competitors’ activities.

These factors significantly influence marketing strategies and decisions.

Question 9

What does the marketing environment provide to companies?

Answer 9

Opportunities and threats.

Successful companies understand the importance of adapting to these changes.

Question 10

What are the components of the marketing environment?

Answer 10

Microenvironment and macro environment.

Each has distinct elements that affect marketing strategies.

Question 11

List the components of the microenvironment.

Answer 11

• The company
• The suppliers
• The marketing intermediaries
• The customer markets
• The competitors
• The public

These actors closely affect a company’s ability to serve its customers.

Question 12

List the components of the macro environment.

Answer 12

• Demographic
• Economic
• Natural
• Technological
• Political
• Legal
• Cultural

These larger societal forces affect the microenvironment.

Question 13

What is the marketing manager’s primary job?

Answer 13

To build relationships with customers by creating customer value and satisfaction.

This involves collaboration with various stakeholders.

Question 14

True or False: The marketing environment remains static and does not change.

Answer 14

False.

The environment continues to change at a rapid pace, requiring constant adaptation.

Question 15

Fill in the blank: The marketing manager must work closely with _______ to ensure marketing success.

Answer 15

other departments of the company, suppliers, marketing intermediaries, customers, competitors, and various publics.

These relationships form the company’s value delivery network.

Question 17

What is the microenvironment in the context of a company?

Answer 17

The microenvironment consists of groups such as top management, finance, R & D, purchasing, manufacturing, and accounting that influence marketing plans.

These groups work together to provide customer value and satisfaction.

Question 18

Who are considered suppliers in a company’s marketing context?

Answer 18

Suppliers are those who provide the resources needed by the company to produce its goods and services.

They play a crucial role in the company’s overall customer value delivering system.

Question 19

How can developments in the supplier environment affect a company?

Answer 19

Developments can lead to price changes, supply shortages, labor strikes, and other events that interfere with delivery promises.

These issues can lead to lost sales in the short run and damage customer relationships in the long run.

Question 20

What are marketing intermediaries?

Answer 20

Marketing intermediaries are firms that aid the company in promoting, selling, and distributing its goods to the final buyers.

They include middlemen, physical distribution firms, marketing service agencies, and financial intermediaries.

Question 21

Fill in the blank: Suppliers provide the resources needed by the company to produce its _______.

Answer 21

goods and services

Question 22

True or False: Marketing managers should only consider their own department when formulating plans.

Answer 22

False

Question 23

What impact can price changes have in the supplier environment?

Answer 23

Price changes can interfere with the fulfillment of delivery promises and affect customer relationships.

This can lead to lost sales in the short term.